Gold Technical Analysis: Yellow Metal jumps to levels not seen since July 2018

• Gold is trading in a bull trend above the 200-period simple moving average as it rising near levels not seen since July this year.
• The metal is challenging 1,237.60 (July 3 swing low) as the 50, 100 and 200-period simple moving averages are widening and rising. The RSI, MACD and Stochastic indicators are also bullish and suggesting more gains ahead.
• A break of 1,237.60 is needed for gold to reach 1,250.00 figure.    

Gold 4-hour chart

Rate:                          1,234.60
Relative change:         1.04%
High:                          1,239.90
Low:                           1,221.40

Main trend:                 Bullish

Resistance 1:            1,237.60 July 3 swing low
Resistance 2:            1,250.00 figure
Resistance 3:            1,265.90 July high

Support 1:            1,220.90 July 18 low
Support 2:            1,211.17 July 19 low  
Support 3:            1,204.10, August 3 swing low (key level)
Support 4:            1,182.90 August 24 low
Support 5:            1,172.82 current 2018 low